Frequently Asked Questions

The Conveyancing Process

If you want to buy or sell a home, land or investment property you’ll have to sign a contract. The legal work involved in preparing the sales contract, mortgage and other related documents, is called Conveyancing

Should I use the conveyancer (CPC) the estate agent has referred me to?

Many estate agents refer clients to a local conveyancer (CPC). There is nothing wrong with this practice so long as it is based on the professionalism and expertise of the conveyancer (CPC). If you don’t know a conveyancer then this referral may be helpful to you.

Keep in mind that the CPC is there to protect your interests and if you would prefer to select your own conveyancer (CPC) then you can refer to the Institute for a referral or check our web site to find a CPC of your own choosing.

While there is usually nothing wrong with the agent referring you to a conveyancer you need to feel comfortable with it and it is your choice not the agents as to whom you use.

The conveyancing process can involve the following steps

  1. Arranging building and pest inspections
  2. Examining a strata inspection report if the property is part of a strata scheme Arranging finance if necessary
  3. Examining and exchanging the contract of sale
  4. Paying the deposit Arranging payment of stamp duties
  5. Preparing and examining the mortgage agreement
  6. Checking if there are outstanding arrears or land tax obligations Finding out if any government authority has a vested interest in the land or if any planned development could effect the property (eg. local council, Sydney Water, Roads and Traffic Authority)
  7. Finding out information that may not have been previously disclosed such as a fence dispute or illegal building work
  8. Calculating adjustments for council and water rates for the property settlement
  9. Overseeing the change of title with the Land and Property Information NSW
  10.  Completing any final checks prior to settlement Attending settlement

Disclaimer: The above extract was obtined from the Department of Fair Trading website

What are the benefits of using a Certified Practising Conveyancer (CPC)?

Being a member of the AIC means that the conveyancer must abide by the rules and codes of conduct of the AIC, they must also complete the annual continuing education requirements that are required to renew a conveyancer’s licence each year. These requirements are set out by the Office of Fair Trading (OFT) and the AIC provides the facility by which members can complete their continuing education.

A Certified Practising Conveyancer is a qualified professional, who specialises in this single field of law (conveyancing) and as such is up to date with all changes to legislation and procedures that may effect your transaction. A CPC must comply with our high standards and has the full backing and support of the AIC.

What are the costs involved in buying real estate?

There are several costs involved in buying any real estate. It is vital that you know what they are before you commence the transaction in order to budget for them. Costs can blow out if you are not prepared and make yourself aware of what is involved.

Ask your CPC to give you a written quotation of all the fees and charges involved in your particular transaction so you know what the conveyancing process will cost you. Ask whether there are any other costs or charges that may arise that are not included in the quotation.

Standard fees and charges payable to your CPC;

Stamp duty on both the contract and any mortgage

  • Title search costs
  • Governmental Inquiries
  • Agency fees for settlement etc.
  • Fee for attending to loan and mortgage documents, when necessary
  • Your CPCs fee
  • Registration fees paid to the Lands Department
  • There may be others depending on your individual transaction

Other costs to be aware of;

  • Fees and charges for obtaining a loan
  • Mortgage insurance where applicable
  • Adjustment of rates and taxes for the period you own the property
  • Insurance of buildings
  • Removalists and other moving costs

Disclaimer: The above extract was obtined from the Department of Fair Trading website

What areas do you cover?

Network Conveyancing NSW assist people with there Purchase or sale needs all over NSW . And if you are moving from interstate we would happy to help you with your conveyancing needs. Give us a call and we will talk to you about you situation and how we can help you.

What questions should I ask my CPC?

t is important that you explain carefully your personal situation and exactly what you want. Explain anything that may have an influence on your transaction. Finance needs to be discussed, any time limits and your preferences

. Advise your CPC of any details at all about the transaction no matter how important, or not, they may seem to you, it is possible that what is not important to you may have an important bearing on the transaction that you are not aware of. Your CPC will decide what is important or not.

Ask your CPC;

  • Are you a member of the Australian Institute of Australia?
  • What exactly will I pay in fees and charges?
  • What is your fee and what services are included in those fees?
  • Will, or can there be, any additional charges or costs?
  • What Government fees will I have to pay?
  • How long will completion take?
  • Is there anything I need to do and when do I do it?
  • Will you personally be handling my file?
  • How will you keep me up to date with what’s happening?

What solutions do you offer?

You can now publish a comprehensive FAQ (Frequently Asked Questions) knowledgebase that allows your customers to find answers to questions about your products and services and much more.

This FAQ was created to provide you with an example. Update it to suit your needs or delete if not required.

When do I instruct my CPC?

You should speak to your CPC as early as possible. You should, preferably, speak to your CPC before you look for a property or before you decide to put your property on the market when selling.

Never sign anything before consulting your CPC. If you are asked to sign a contract request a copy of the contract first so that your CPC can go through the contract with you before you sign. If you do this you will understand what you are signing. There is no such thing as a standard contract.

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